Question

The businesses bought supplies on an account. To record the transaction
A an expense is debited, and a liability is credited
B an asset is debited, and an asset is credited
C an asset is debited, and a liability is credited
D none of the above

Answer 1

\(\huge\color{blue}{WELCOME~TO~OPENSTUDY}\)

Answer 2

bought supplies = increased Asset
bought "on account" = liability (what you owe to others is increased

note: when you debit something, something else must be credited (and vise versa)

Answer 3

from what I gave what do you think? @Ayoung01

Answer 4

Don't know

Answer 5

I've mentioned two thing that should lead you to your answer :)
supplies = Asset
on account = Liability

Answer 6

which option mentions both Asset and Liability?

Answer 7

C?

Answer 8

there you go :)